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Five teams entered in Panasci competition

Budding entrepreneurs will vie for more than $40,000 in cash and services in the annual Henry A. Panasci Jr. Technology Entrepreneurship Competition on April 25.

Five teams, consisting of students and alumni from the University at Buffalo, will present business plans for a commercially viable technology to a panel of six judges at the Jacobs Executive Development Center in Buffalo.

The first-place team will win a package including $25,000 in seed funding and one year of legal services from Jaeckle Fleischmann and Mugel, valued at $5,000. The second-place team will receive $10,000 in seed funding.

UB launched an entrepreneurial contest in 2000. In 2005, UB combined it with another competition that focused on promoting proposed ventures that would commercialize UB-generated technology.

Panasci was a UB graduate and businessman who provided a $1 million endowment to support the competition. The event was created by the UB School of Management and the UB Office of Science, Technology Transfer and Economic Outreach.

The competition is also designed to bring together graduate-level students from science and technology disciplines together with MBA students to maximize their business and scientific potential to create viable local businesses.

e-mail: mglynn@buffnews.com

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